Citizens Financial Group Target of Unusually High Options Trading (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 8,105 call options on the stock. This represents an increase of 80% compared to the typical daily volume of 4,495 call options.

Citizens Financial Group Trading Down 1.7 %

CFG stock traded down $0.71 during mid-day trading on Tuesday, reaching $40.36. 1,980,176 shares of the stock traded hands, compared to its average volume of 5,381,581. Citizens Financial Group has a one year low of $22.77 and a one year high of $43.96. The stock has a market capitalization of $18.36 billion, a PE ratio of 14.62, a PEG ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The business has a 50-day moving average price of $41.17 and a two-hundred day moving average price of $37.44.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities research analysts expect that Citizens Financial Group will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is currently 60.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Stephens raised their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Raymond James initiated coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating for the company. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.60.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. raised its position in Citizens Financial Group by 12.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after purchasing an additional 264 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Citizens Financial Group by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after acquiring an additional 305 shares during the period. Abich Financial Wealth Management LLC grew its holdings in Citizens Financial Group by 11.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank’s stock worth $117,000 after acquiring an additional 334 shares in the last quarter. Czech National Bank increased its position in Citizens Financial Group by 0.5% during the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after purchasing an additional 375 shares during the period. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Citizens Financial Group by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock valued at $3,497,000 after purchasing an additional 382 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.